Skip to Content
 

Fixed Rate Mortgages

Most people choose the peace of mind that comes with a fixed rate mortgage. Your interest rate remains the same for the entire life of the loan. You can choose from a variety of loan terms including 10, 15, 20, or 30 years. Your monthly payment will be the lowest with a 30 year term, but you'll pay significantly less interest over the life of the loan with a shorter loan term. There are many different fixed rate loan programs available, each with it's own set of advantages. Check out the options below to see which one's right for you.

25 Year Fixed

Best Choice If:

  • You plan on staying in the home long-term.
  • You would like your monthly payments to remain fixed over the life of the loan.
    Advantages:

    • Fixed principal and interest payments for the full term of the loan.
    • Allows for higher loan amount qualification and enhanced buying power.
    • No risk that changing market conditions will increase your monthly payments.

      30 Year Fixed

      Best Choice If:

      • You plan on staying in the home long-term.
      • You would like your monthly payments to remain fixed over the life of the loan.
        Advantages:

        • Fixed principal and interest payments for the full term of the loan.
        • Allows for higher loan amount qualification and enhanced buying power.
        • No risk that changing market conditions will increase your monthly payments.
          Disadvantages:

          • You won't build equity as quickly as you would if you chose a shorter repayment period.

            20 Year Fixed

            Best Choice If:

            • You plan on staying in the home long-term.
            • You would like your monthly payments to remain fixed over the life of the loan.
            • You would like to pay-off the loan balance more quickly.
              Advantages:

              • Fixed principal and interest payments for the full term of the loan.
              • No risk that changing market conditions will increase your monthly payments.
              • The loan balance will decrease more rapidly than a 30 Year mortgage.
                Disadvantages:

                • Shorter repayment periods result in higher monthly payments that can only be changed by doing a refinance of the loan into a new loan in the future if plans or circumstances change.

                  10 Year Fixed

                  Best Choice If:

                  • You plan on staying in the home long-term.
                  • You need your monthly payments to remain fixed over the life of the loan.
                  • You would like to pay-off the loan balance quickly.
                    Advantages:

                    • Fixed principal and interest payments for the full term of the loan.
                    • No risk that changing market conditions will increase your monthly payments.
                    • The loan balance will decrease more rapidly than a 30 Year mortgage.

                      15 Year Fixed

                      Best Choice If:

                      • You plan on staying in the home long-term.
                      • You need your monthly payments to remain fixed over the life of the loan.
                      • You would like to pay-off the loan balance more quickly.
                        Advantages:

                        • Fixed principal and interest payments for the full term of the loan.
                        • No risk that changing market conditions will increase your monthly payments.
                        • The loan balance will decrease more rapidly than a 30 Year mortgage.
                          Disadvantages:

                          • Shorter repayment periods result in higher monthly payments that can only be changed by doing a refinance of the loan into a new loan in the future if plans or circumstances change.

                            30 Year Fixed - Home Ready

                            Best Choice If:

                            • You have limited funds to invest in a down payment.
                            • You earn below the HUD median income limits.
                              Advantages:

                              • Fixed interest rate.
                              • Level principal and interest payments for the full term of the loan.
                              • No risk that changing market conditions will increase your monthly payments.
                              • Closing costs can come from your own funds, a gift, grant or other permitted sources.
                              • Reduced private mortgage insurance (PMI).

                                30 YR Fixed HomeOne

                                Best Choice If:

                                • You have limited funds to invest in a down payment.
                                • You earn below the HUD median income limits.
                                  Advantages:

                                  • Fixed interest rate.
                                  • Level principal and interest payments for the full term of the loan.
                                  • No risk that changing market conditions will increase your monthly payments.
                                  • Closing costs can come from your own funds, a gift, grant or other permitted sources.
                                  • Reduced private mortgage insurance (PMI).
                                    Disadvantages:

                                    • You pay more interest over the life of the loan due to higher interest rate.

                                      Mortgage Rates

                                      The Loan Consultant feature determines the products and rates that match your needs.

                                      Ready to Start?

                                      To apply for your easy online loan, all you have to do is answer a few simple questions about yourself, your property and your income, debts and assets.

                                      Apply